Certain risks will be faced throughout the project, though proper avoidance and mitigation plans will allow project objectives to be completed on time. Risks will be obsessed using AHP and pairwise comparisons. If possible, quantitative measurements, in terms of financial or class grade loss if the risk is realized, will allow comparison to determine which risks should be focused on to ensure that they are not realized.
Risk Identification
From previous experience, the major risks that will occur in the project will likely be related to increasing scope, unfeasible designs, insufficient resources, delayed shipments, and lack of motivation.
Risk Avoidance
To avoid increasing scope late in the project, there will be a change moratorium to the project’s scope at the end of the senior thesis proposal class. Any additional substantial features must be put on hold until the end of the semester if time permits; all other requirements must first be completed.
To avoid issues from a design becoming unfeasible, viable alternative designs will be created in the planning phase.
To avoid running short of resources, proper resource management and thorough time and money planning will ensure that all resource expenditure is within budget.
To avoid being affected by delayed shipments, parts will be ordered as soon as they are confirmed to be required.
To avoid slipping motivation, the team will be kept in contact to create an atmosphere of team cooperation and ensure that all team members feel useful in the project.
Risk Mitigation
In the case of required increased project scope, the team will collaborate and decide the new priority of tasks using AHP. The tasks will be worked in the order decided, and the team will understand which items may not be completed in time.
In case a design becomes unfeasible, one of the alternate designs created in the planning phase will be pursued.
In case of insufficient financial resources, the investors will be contacted, or more investors will be located to sponsor the project.
If shipments are delayed, alternative distributors will be researched and ordered from to obtain the part in time.
If there is a lack of motivation on the team, team outings will be planned that do not involve the project, but will allow team bonding and any personal issues to be discussed.
Risk Identification
From previous experience, the major risks that will occur in the project will likely be related to increasing scope, unfeasible designs, insufficient resources, delayed shipments, and lack of motivation.Risk Avoidance
Risk Mitigation